Maryland has rolled out a comprehensive plan to reach climate goals and reduce greenhouse gas emissions! This plan far exceeds any other state’s current requirements and makes Maryland a front runner in climate control.
The insurance industry has experienced a hard market for the last several years and is only recently starting to see some stability. One of the reasons for the difficult market is the cost of repairing damage from Convective Storms, Wildfires, Hurricanes and Tropical Storms. Scientists believe the increasing number of destructive weather events is related to climate change. We understand our clients may have their own opinions on climate change; we are not qualified to expound on that issue. But we ARE certain that insurance carriers believe climate change is affecting the number of severe weather events, and those carriers are the ones who set premiums and pay claims.
On June 1, 2025, buildings with more than 35,000 square feet were required to sign up for Maryland’s Building Energy Performance Standards (BEPS). These buildings will be required to report energy use and emissions each year. Don’t worry – if you file by September 1st you will be considered compliant.
This is the beginning of a long-term initiative happening in phases from 2025-2040.
Concerned that maybe your building is 35,000 square feet or larger? Who would know that information? Your Insurance Agent knows! We may not be able to help with the benchmarking and meeting new energy efficiency standards, but we do know square footages of your buildings!
Townhomes and single-family homes are excluded from the BEPS. Although if you own a single-family home over 35,000 square feet, we would love to quote your insurance! (Reach out to our Private Client Advisor Meghan Feagans at mfeagans@deeleyinsurance.com today.)
Buildings in BEPS may need to undergo certain projects or upgrades to achieve the needed reduction in greenhouse gas emissions. Those projects could impact your budget planning over the next 15 years.
SUPER IMPORTANT: If you’re undertaking any renovations in your buildings (whether voluntary or required by BEPS) please let your insurance agent know of the upgrades you’re performing. Insurance carriers love it when you make upgrades and improvements, and they utilize that information when determining rates for premiums.
Please visit this extensive website on Building Energy Performance Standards for information on how to register. The YouTube Channel also has over 14 hours of video on energy standards, alternative fuel technologies and decarbonizing large buildings. Grab an iced coffee and settle in!
Be Safe. Be Sure.
